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Social Accounts Industry Balance Sheet Demands Definitions

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JLK5505

So, under the Social Accounts>Balance Sheet>Industry Balance>Commodity Demand

Gross Absorption / Gross Inputs ($) / RPC / Regional Absorption / Regional Inputs ($)

What exactly do the column labels mean in regards to the commodities they're presenting ? I'm fine with layman term, most of these are not in the glossary and I don't want to misinform my analysis at the data level. 

 

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    james.ackerman@implan.com

    Great Question Jeff,

    We have this article on Understanding the Social Account Tables where I found the below definitions in question.

    • Gross Absorption = the proportion of Total Industry Output for this industry that goes toward purchases of each commodity. Gross Absorption is calculated as Gross Inputs/Total Industry Output. Total Gross Absorption will be less than one, with the remainder of Total Industry Output going toward Value-Added.
    • Gross Inputs = the value that this industry spends on each commodity.
    • RPC = the proportion of local demand for the commodity that is currently met by local production. This is the same value as that found in the View By: Commodity Summaryscreen.
    • Regional Absorption = the proportion of Total Industry Output for this industry that goes toward local purchases of each commodity. Regional Absorption can be calculated as Gross Absorption * RPC.
    • Regional Inputs = the value that this industry spends locally on each commodity. Regional Inputs can be calculated as Gross Inputs * RPC.

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